Tata may seek fresh equity from investors such as a strategic partner or sovereign wealth fund.
The Jaguar Land Rover Automotive XE SV Project 8 vehicle is displayed during a reveal event in Los Angeles, California.
Just over a decade after purchasing the Jaguar and Land Rover brands, the business has turned from crown jewel to burden, culminating in the biggest corporate loss in Indian history just last month when Tata drastically slashed the value of the asset.
Tata Motors’ shares surged as much as 3.7% and were trading at 180.3 rupees, up 1.6%, at 4.39pm in Mumbai. Jaguar Land Rover said last month it was seeking alternative funding sources as conditions were not right to borrow from the bond market. The maker of the Jaguar XE sedan and Land Rover Discovery sports utility vehicle needs to raise US$1 billion in 14 months to replace maturing bonds and is also burning cash on an investment program for electric cars.
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